NEW YORK (AP) — Stocks closed solidly lower, led by a drop in energy companies as the price of crude oil took another tumble.
Murphy Oil dropped 15 percent Tuesday and oil rig operator Transocean lost 10 percent.
Hamburger chain Shake Shack dropped 12 percent after delivering results and an outlook that disappointed investors.
Traders were also discouraged by weak trade figures from China.
- FWBP Digital Partners -
The Dow Jones industrial average fell 109 points, or 0.6 percent, to 16,964.
The Standard & Poor’s 500 index fell 22 points, or 1.1 percent, to 1,979. The Nasdaq composite gave up 59 points, or 1.3 percent, to 4,648.
The losses ended a five-day winning streak for the S&P 500 index.
Bond prices rose. The yield on the 10-year Treasury note fell to 1.82 percent.